Posts Tagged budgeting

My No Spend Challenge: How I Bought Nothing for Six Months

My No Spend Challenge: How I Bought Nothing for Six Months

This year I decided to take on a personal no spend challenge. I wanted to see if I could buy nothing for an entire year. Six months in, I’ve been successful (and learned a few lessons too).

As I’ve shared my story with friends and blog readers, many of you have asked how to take on a no spend challenge. In our world of buy, buy, buy, where almost anything is available instantly at the click of a button, a year without spending sounds daunting at first.

I’ll admit, I wasn’t sure I could handle the challenge either. Even though I live in a tiny house and follow a mostly minimalist lifestyle, the thought of buying absolutely nothing for a year seemed tough. Now that I’ve been going on the challenge for six months, I must admit, it becomes easier when you start. It was a simple matter of setting up rules and then shifting my mindset. Here’s what I’ve learned about buying nothing in my first 6 months.

Why Try to Buy Nothing?

One of the first questions I get about the no spend challenge is “why?” To be honest, answering the question of “why” was a big part of the process to taking on a year without spending.

What it comes down to is, the no spend challenge isn’t meant to stop people from spending money because it’s somehow bad or wrong to buy what you want. There’s nothing wrong with shopping in itself.

When buying becomes a problem is when we spend money we don’t have on items we don’t need. It’s an issue when we buy items and tell ourselves little stories that aren’t true to justify our purchases. We expect our purchases to bring us happiness, friends, freedom, or other rewards they can’t possibly deliver. Ultimately, we end up less happy because those stories we told ourselves don’t come true and spending now detracts from our long-term goals in the future.

Personally, I have a lot of goals I’m working toward. One of the biggest obstacles to achieving those goals was money.

Spending money on extraneous items was causing me to delay accomplishing my biggest goals. It was creating a barrier to the big dreams I wanted to achieve. Once I realized my “why,” keeping myself focused on my no spend challenge has been much easier. No way am I going to pass up my big dreams for a temporary fix. Spending money now in lieu of a bigger, better future, isn’t worth it.

My No Spend Challenge Rules

I’m not a huge fan of rules, to be honest. In fact, one of the only rules I follow is that it’s a good idea to question everything (including the rules). I apply this “guideline” to my minimalist approach to work, as well as organizing my house.

Still, when it came to the challenge, I wanted to set up guidelines and parameters. Plus, I’m a stickler for semantics so I wanted to clearly define the rules, so I couldn’t exploit any loopholes. So, these are the no spend challenge rules I decided to follow:

1. Food Is Fair Game

Everyone needs to eat and I’m nowhere close to growing my own food at the moment, so realistically food was a necessary expense. As part of the no spend challenge I cut out all fast food and only allow myself to eat out at “sit down restaurants,” on special occasions. This means I’ve cooked a lot more.

2. Everyday Consumables Are Allowed

Consumable products were another necessity–like toilet paper, shampoo, toothpaste, deodorant, soap and other similar items that get used up over time. To make sure I didn’t find a way to exploit this no spend rule, I created an “inventory” before I started. I only allowed myself to keep those items and not add to the inventory list. These household items are super basic and have been reduced to only products I use every day.

3. Medical Items Are Allowed

If I need a prescription or an item recommended by my doctor, I can get it. I limited this to only the directions of my doctor. As a rule, this situation hasn’t yet come up, because I’ve stayed healthy. Still, health is too important to not add this caveat.

4. Only Buy What You Need, When You Need It

When an above-mentioned consumable or food is gone, I buy a replacement. This no spend rule stopped me buying items I don’t use. For consumables I use frequently or go through quickly, I set a number I’m allowed to store in my “inventory.” The rule is I can maintain my inventory numbers, but never go beyond them.

5. Fix First, Replace Second

All I really have in my house are the basics, which means if something breaks, I really need it. So, I said I had to first try to fix it, then if I couldn’t I could replace it. So far, I’ve only had to replace one thing that couldn’t be fixed.

6. Only Digital Version Of Books

I love reading and do a lot of it. One of my main goals is reading two books a month, minimum. So to do this I chose Audible audiobooks downloaded to my phone. In cases where I want a physical book, I’ve started using the library

7. Gifts For Other People

In some situations, it’s necessary to get gifts for other people. In many cases, I prioritize giving experiences over things. When a birthday or special occasion comes around, I may choose to take someone out to dinner, go to an event, take a trip, or another gift that doesn’t involve buying more “things.”

Six months into my no spend challenge, the only item I’ve purchased (besides food and shampoo) was a new bathmat. Unfortunately, the one I had mildewed and became grungy. After washing the grimy mat (following rule the fifth rule), I decided it needed replacing. When I did replace it, I bought a quality mat and threw out the old one. In six months, only spending $20 on a bathmat is a purchase I can definitely live with, so I still consider the no spend challenge a success so far.

6 Lessons You Need to Succeed at the No Spend Challenge

There are six practical lessons I’ve learned from taking on the no spend challenge. As I work toward a year without spending, these lessons have helped me more successful.

Better yet, these lessons will still apply even after the challenge is up. I would say, even if you don’t plan on taking the no spend challenge for a full year or if you set different parameters for yourself or your family, you will still benefit from applying these minimalist lessons every time you purchase.

If you want to buy less, take on a year without spending, or save money and make wiser purchases, use these 6 lessons to guide you.

1. Start with “Why” Before You Buy

As I mentioned before, when I discovered my “why,” taking on the no spend challenge became much easier. It’s the whole “keep your eye on the prize” mentality. If there are bigger goals you want to achieve, focus on the deeper purpose.

Purpose will keep you on track and give you direction. Again, the no spend challenge isn’t about getting people to stop buying for a year because buying is bad. It’s about implementing plans and purchases to ultimately make your life better. If an item doesn’t make your life better or move you toward your larger purpose, then it’s probably not worth the money.

Ask yourself:

  • Why do I want to take on a no spend challenge?
  • What are my larger goals?
  • Why will this challenge move me toward the goals I want to achieve?

Once you’ve discovered those answers, the rest is easier!

2. Do You Have the Money?

Perhaps the most obvious and easiest question to ask is one we often overlook. Especially with credit and “buy now, pay later,” promotions, it’s easy to live beyond our means. When it comes down to making a purchase—any purchase from a steak dinner vs. ramen noodles—as yourself if you can really afford it.

If you don’t have the money, don’t buy it. Plain and simple. If you’re facing a need you can’t afford, look at the other areas where you spend beyond your means. Are you renting a space that costs more than you can afford? It may be time to move. Does your car payment eat up your budget each month? It may be time to trade in for a cheaper vehicle.

A world of credit has skewed our view on what we can and can’t afford. At the end of the day, if you don’t have the money, don’t buy. It’s that simple.

3. Delay Your Gratification

When you’ve convinced yourself there’s a need to purchase something, add it to your list and wait until the next trip to the store. If you’re shopping and you see an item you want to buy (not on the list), wait until your next trip. The majority of the time the urge to buy will pass before you go back to the store.

This approach works really well with online shopping too. Whenever you want an item, add it to your cart and leave it there. Then the next time you shop, if you still want the item it’s there and ready. Chances are, you’ll find a solution to your problem without spending or you’ll discover you didn’t need the item as much as you thought you did. Waiting helps those who struggle with impulse purchases.  After doing this constantly for 6 months it’s amazing to me how often I find I don’t want something, it’s very eye-opening for a person who didn’t buy a lot to begin with.

4. Ask Yourself What You’re Actually Buying

We buy food because we need to eat. We have a biological imperative to get food. For the majority of our other purchases—clothes, decorations, exercise equipment, appliances—we buy because we’re purchasing an ideal or concept.

When you buy a piece of exercise equipment, it’s not simply because you LOVE to exercise, it’s because you want to get the end result: a healthy, fit body, more energy, lower blood pressure, and so on. You’re buying the equipment because you believe the purchase will give you the outcome you desire.

When you decide to purchase, ask yourself: What am I really buying? What do I hope to gain from this purchase? Will my actions result in the desired outcome or am I just telling myself it will?

We should always look at the stories we’re telling ourselves and the narrative we’re inserting into the purchase. I’ve seen this with people who buy RVs, only to find they wish they’d tested it out first. It turns out they aren’t really “RV people” and now they’ve made a huge purchase that’s hard to undo.

On a smaller scale, I ran into this myself last year when I bought a blender (before I took on the no spend challenge). I looked at the $500+ Vitamix blenders because I like to purchase the highest quality when possible. Looking at the price tag, I decided to opt for a $16 blender at Wal-Mart, telling myself if I used it consistently for three months, I’d splurge on the Vitamix.

Well, after a few weeks of smoothies, I discovered I don’t actually like smoothies all that much. They’re okay, but not $500-blender-level okay. By delaying my gratification and not buying the narrative that the new blender was going to convert me into a “smoothie person,” I saved myself $484.

5. Ask How Else Can You Achieve the Purpose

If there’s an item you want or need, such as clothing, books or tools, ask yourself if there’s another way to achieve the same outcome. Figure out how not to spend money, but still get what you need. Could you borrow the item from a friend? Could you somehow find a workaround to achieve the same results?

Oftentimes we purchase before we really explore alternatives. If there’s a book you want, chances are, you could find it at the library. The same goes for movies you want to see and music you want to listen to. For most tools, you can find rental options through home improvement stores.

Other items, such as clothing, appliances, and dishes are found for less at second-hand stores. You may even check Craigslist or neighborhood exchange pages to find the item for free. Barter and trade with others to get what you need without spending. Learn to create: cook, grow a garden, teach yourself to sew and do small repairs.

When we focus on the desired outcome, we may find many means to an end. A treadmill may seem to solve our desire to get in shape, but could you start going for regular walks instead? Is there an indoor track somewhere you could use for free? In the longer term, would a gym membership cost less and end up taking up less space than a treadmill? Simply buying an item won’t give you the end result you want, so you have to put in the effort. Could you get in shape without spending?

6. Ask: What Will This Purchase Replace?

In minimalism, many of us embrace the “one-in, one-out” rule. This, of course, is vital if you live in a small space. But, even if you have extra room, applying this rule will help you minimize clutter and keep excess stuff from taking over your space. Whenever you buy an item, ask yourself what you’re going to toss out to create room.

If you buy a new shirt, let go of your oldest one. New sneakers? Toss out your old smelly ones. New bathmat? Replace the mildewed one (which was the whole need for buying a new bathmat in the first place).

Don’t let yourself hold onto items that end up cluttering up your life and taking up your valuable space. Taking on a year of buying nothing will help you reprioritize and realize what really matters. What items do you buy “just to buy” and what items do you really need?

As you pare down and prioritize, you’ll discover there’s simplicity and beauty in maintaining the number of items you own. If you decide to purchase something new, toss out something old. Be sure the items you hold onto are what you actually need and enjoy—the items that make your life better and move you toward your bigger goals.

A year of buying nothing is a tough challenge, but not as tough as it may seem at first. Once you go through the process of trying a no spend challenge, you’ll be amazed at how your priorities shift. You may suddenly gain several hours a week you used to go shopping, you can now spend cooking a good meal, taking the time with your family, or going for a walk. You’ll move closer to your financial goals and build momentum to keep going.

I look forward to sharing more about how my year of buying nothing is going. I’d like to hear how you’re doing with your no spend challenge, too.

Your turn!

  • Have you taken on the no spend challenge?
  • What’s the longest you’ve gone without making a purchase?
  • What stories have you told yourself when you bought something you didn’t need?

 

How To Start Homesteading On A Budget

Ever since I was a very young kid, I knew that I wanted to have a little place of my own, to own land were I could enjoy being outside.  That never feeling never left through the years.  So starting a homestead, finding a place for your tiny house or just a little piece to call your own can seem really challenging at times.

how to start a homestead on a budget

For some they just want to start homesteading right where they are, it’s just a matter of figuring out how to do it. For others is just finding the time to make it happen.

So what are we supposed to do when we’re on a budget and all we want to do is start building a life for ourselves?

Get Clear On Your Goals

writing in notebookThe biggest mistake I see people make is they haven’t really defined what they want to do in 1 year, 5 years and so on.  When you get very clear on what you want, you can quickly determine what you actually need in your future stead and where you are going.  Too often people don’t set goals which means they are getting pulled in a million directions.

If you actually write out your goals you gain clarity and you will have a standard to evaluate how you spend your time and resources.  When you have clear goals you can ask yourself “does this get me closer to my goals?”   If the answer is yes, then you should pursue it.  If the answer is no or maybe, then you should say no to whatever it is.

Having goals means you don’t waste money on things that you don’t need and focus the money you do have on hand to the things that will actually let you do what you want to do.  Too often people spend money on things they think they want, but haven’t taken the time to determine if that’s right for them.

Simplify Your Life

Closely tied with my last point, work to actively encourage things in your life that are aligned with your goals, then reject everything else.  This can be difficult, but with some practice and keeping your eye on the prize you can cut out all the stuff that doesn’t matter.

simplify your life quote

From there look at ways to make every day easier and less complicated.  Declutter your home, regain control over your calendar, cut out unnecessary expenses and focus on what matters to you.  This is a long process, but as you bring the important things into focus and remove the things that eat up your time that don’t matter, you’ll find you have more time, less stress, and life seems to flow better.

Take The Long Road

It can be tempting to make the leap now, but if we accept that this is a journey and we need to sort things in our life before we get to our destination.  We realize that we’re putting in the hard work to make our dream possible so that when we do arrive, we are able to really enjoy it fully.  If we rush through it we’ll start homesteading stressed, in debt, and being pulled in a million directions.

take the road less traveledSome of the biggest goals I’ve achieved were only enjoyed because I worked on everything as I made my way there.  When I moved into my tiny house I wanted to have a simpler life, less clutter from possessions, on my way to being debt free and in a really good place in my life and career. If I hadn’t worked to make those things a reality, the experience of going tiny would have been very stressful.

The other thing to know is that a lot of what you want to do requires a lot of new knowledge and experience, which you can start gathering now!  Choose the areas you want to focus on first (goal setting) and find a way to learn more about those areas.  It could be checking a book out of the library, it could be making friends with a local farmer or homesteader and asking if you can help out for free.

A lot of what I learned was from a farmer who I helped weed beds.  As we moved along his raised beds, I would ask lots of questions and we’d talk about various things on his farm that I wanted to know more about.  It was a big help to him, I learned a lot and it filled the time while we were weeding.

Starting Your Homestead Where You Are

For many people when they get really clear on their goals and realize that the whole thing is a journey, they realize that the land they are on is actually a really good place to start for them for where they are in their journey.  Most of us just starting out don’t have many of the skills needed to run a full fledged homestead, so starting small is perfect because we can build our skills so we can later apply them to a larger piece of land.

gardening in your back yard

Start with baby steps as you build out your homestead and if you don’t own the land, consider how you can develop the land in ways that you can take them with you when you upgrade or move.  Portable infrastructure is key when you don’t own your land or the land you’re on is a stepping stone to your final destination.  Things like water systems, shelters for animals, fencing, and even garden beds all can be made to move if need be.

So look around where you are right now, could you start a raised bed?  What about container gardening?  Is there a way you could buy two chickens and learn the ins an outs of raising them?  Be open to possibilities and bring creativity to your situation.

Buying Land With Little Or No Money

For many of us it’s all about finding some land we can call our own.  Land can be very expensive and while we want to grow things, money isn’t one thing we can grow in our gardens.  So how can we buy land without much money?

Rent To Own

rent to own signMost of us are paying something right now for wherever we are living.  It could be rent or a mortgage, but whatever the case is, we actually do have money, it’s just not allocated in the right direction.   What if we were to find some land where we could start renting now and the rent goes towards ownership?

There are many landlords that will consider this, especially when they’ve been trying to sell it for a long time or it’s bare land.  This is sometimes referred to as “owners financing”.  The beauty of this is we often can get in on a property that has potential, but requires some elbow grease for very little down.  Sometimes you can start with nothing down.

If you play your cards right, you can find a piece of land that’s right for you at the same cost of your old mortgage or monthly rent.  If you were spending $500 a month, work the deal to pay the owner $500 a month.  The downsides to this approach are that the owner will often use a higher interest rate than normal and if you default on the payments, you lose it all.  So make sure you have money saved for a rainy day.

Get A Land Loan

Land loans are harder to come by these days, but there are a few credit unions and smaller banks that will still do them.  You’re typically looking at about 2% more interest than going mortgage rates.  This was an option I explored and was able to find financing options through the Farmers Credit Union which had USDA backing.

I don’t typically advocate taking on debt, but there are sometimes that it is the only realistic option.  Houses, land and for some cars are the only way they could achieve this.  If you go this route, make sure you have a good handle on your finances, you’ve paid down all your debt and you have 3-6 months of expenses saved in case of job loss.  This isn’t something you want to mess around with.

Stretch The Money You Do Have

One thing to consider is that land is often expensive, but if we are willing to make a move we can consider areas that land is cheaper.  If you have $15,000 in California, you’re not going to find any options, but if you were open to Montana, you might find some really good deals.  Combined this with a rent to own arrangement and you can get some really nice land for what you have on hand.

The two caveats with this is to make sure that you can still find employment in those areas, if you can remote work you can be pulling in big city pay checks while having small town bills.  The other thing is to try it before you buy it, just because it’s the right price may not mean it’s a place you like to live.

So consider renting for a year and use the time to get to know the area, the people and the lifestyle.  You can use this time to get a lay of the land, understand where you might want to live better and build connections that could help you on your journey.

Rent Land

In more rural locations, especially those where farming is common, renting land by the year is very common.  Many people will use this as a way to expand their farm without buying expensive property.  In some places $50 per acre per year is quite common, you just need to make sure that you are able to move everything if the situation changes.

So those are some of the options you can consider when trying to find land.  It isn’t easy, but with some creativity, hard work and perseverance you can make owning land a reality.

Your Turn!

  • How have you figured out a way to find your own land?
  • Where are you at with your journey?

What to do if you go Overboard and Over Budget

It happens, even to those of us who have been budgeting for years. There are going to be those months where something (or many things) come up and blow your well-planned budget out of the water.

Knowing that it will eventually happen, it is best to prepare yourself for that month (or months) where things have gone overboard and over budget.

Step One: Stop and Breathe – It’s going to be OK

What you want to avoid doing when you know you’ve gone over budget is to throw your hands up in the air and forget the whole budgeting thing. When times get tough and the cash flow feels tight, you want to try your best to maintain a positive attitude.

Step Two: Go Into Your Budget

When I’m stressed out about the budget, the last thing I want to do is go in and check in with my budget since I know I’ve blown it. I know though that it is the one thing that I must do. Go into the budget, see where things are, and see what needs to be cut back on so that you can find a way to cash flow this latest life expense.budget binder

Take a look at your variable spending categories (food, clothing, gas, etc.) and see if there are any areas where you don’t need to spend as much. Can some of that money be used to help cover the unexpected expense?

If you can’t cut from your variable expenses, take a look at what you are setting aside in your sinking funds. Ask yourself if there are any sinking funds that you can stop contributing to this month so that you can free up extra money and not completely blow the budget.

Step Three: Take a Look Around Your House

Is there anything around your house that you could sell to recoup some fast cash to then cover the unexpected? With so many buy and sell sites available online, making some fast cash is never easier and having that cash in hand in exchange for those items that rarely get used anymore will help to limit the stress that you’re feeling right now.

Step Four: Tap into your Savings

If the extra income isn’t there or if there are no areas in the budget left to slash, then it’s time to look at your savings. Yes that money might be earmarked for something else, but if it means not having to go into debt to help cover the cost, it’s better to borrow the money from yourself..

When things are better and you averted this temporary crisis, you can always pay yourself back. And it’s much better to pay yourself back than paying back a bank who charges you interest.

Your Turn!

  • How do you get through those months where life has thrown you an unexpected expense?

5 Things I Stopped Buying to Save Money

When you’re trying to save money, it’s a good idea to track what you currently spend money on and see if there are habits that you can change. Perhaps you can do without some items, look for a cheaper alternative, or find a way of doing it yourself.

In order to free up as much money to put towards our financial goals as possible, we saw our biggest money wasters and made cuts or found cheaper alternatives. They were simple changes to make and we haven’t looked back since.

Pre-Packaged Foods and Snacks

This was one of the first things to get cut from our shopping list that has saved us a lot of money over the last three years. When I saw that I could buy a bag of chocolate chips for the same price as a box of pre-packaged cookies, I quickly realized that I could make a lot more cookies for the same price, cut down on the amount of package waste our family was producing, and save a lot of money in the long-run.

The other things we stopped buying were the pre-packed side dishes, like flavored rice and pasta. Again, a large bag of rice or pasta is much cheaper and you can season it as you wish. The other thing to go were the boxes of crackers. Instead we’ll air pop some popcorn and have that as a crunchy snack.

Bread

One road trip during the summer we found ourselves driving through Amish country. That time of year, you can find vendors set up along the side of the road selling fresh produce and baked goods. When I saw the homemade bread, I had an awakening of sorts.

Bread where I live will go on sale for $1.75 a loaf, and that is the rock-bottom price. At the time I was spending on average $2.00 a loaf and each week and would have to buy 4 loaves of bread (Yes, we’re big bread eaters…Yum). The math however on that was a little scary. $8.00 per week meant that we were spending $416 a year on bread.

We inherited a bread maker that sat in my pantry for years, never being used until we returned home from that summer trip. I found a great recipe and have been enjoying homemade bread ever since. I can easily make a loaf for under $1.00, saving my family $200 a year.

Gym Memberships

When making cuts to our budget to save money, this was also one of the first things to go. I enjoy exercise and know how important it is to our overall health, but I also know that exercise doesn’t have to cost you a lot of money.

Rather than spending $30 a month on a gym membership (that honestly wasn’t being used enough to justify the cost), I spent $30 on a pair of hand-held weights, a weighted medicine ball, and a yoga mat. Getting outside and going for a walk or run is free and, thanks to the internet, there is an endless supply of exercise videos and tutorials available online that I can stream on my television.

Books and Magazine Subscriptions

I used to love getting the mail and finding my magazine subscription come in. When I added up what I was spending each year, I realized that it was money that I could just as easily put towards our financial goals. I quickly cancelled my magazine subscription and started enjoying the same magazine loaned from the library for free.

As a literacy teacher, I also love books. One of my favorite things to do would be to head over to my local bookstore and browse the shelves looking for the next great read. I treasured my growing collection of novels. What I didn’t treasure was the ever increasing price. Again, back to the library to pick up the same books and enjoy them for free. 

Take-Out Coffee and Disposable K-Cups

Coffee. I love coffee. It’s the first thing that I look forward too each and every morning. It was also a constant leak in our budget. When I saw what six months worth of take out coffee cost, I was shocked. It never seems that much when you’re spending only two or three dollars at a time. For what I was spending in one week, I was able to pick up a travel coffee mug and now bring my own from home.

The other expense we gave up were the individual, single-use K-cups for our coffee machine. I traded in my single-use cups and bought some reusable cups that we fill with our own coffee for pennies a cup. Not only is it better for our wallet, but also better for the environment.

Your Turn!

  • What have you stopped buying in order to save money?

6 Things We Gave Up to Get Out Of Debt

In order to get our consumer debt paid off, my husband and I had to be willing to give up some things. We had to consider what aspects of our spending behavior we needed to change so that we could hit our goal as quickly as possible.

Here are the six things that we decided to give up in order to help us pay off our debt:

“Browsing” at our favorite stores:

The more time I spent browsing, the more I realized that there were items out there that I didn’t even know I “needed” and ended up buying. When I did our spending analysis at the beginning of our debt journey, what I found were my weaknesses for Target and the drugstore. That’s where I tended to get into the most amount of trouble when it came to spending impulsively.

I quickly realized that if we were going to get out of debt, browsing in those stores wasn’t something that I could be doing any more as too much money was getting wasted on items I didn’t need.

Shopping without a list:

Whenever I shopped without a list, my focus was easily diverted to all of the other things that I might “need”. In order to cut back on the amount we were spending, we learned that we needed to not only shop with a list, but stick to the list.

Shopping with a list included more than just groceries. When we need clothing, or anything else for that matter, I’ll do an inventory of what we have and then come up with a list of what we need so that when we go into the store we are not as easily distracted and wasting money on items that we don’t need right now.

New clothes:

Instead of shopping at the regular retail outlets, we now shop for new-to-us clothes at the thrift store. In doing so we have saved a lot of money, cutting our clothing budget in half. In order to save even more money, my favorite day to shop at the local thrift store is on their 50% off day.

Convenience food:

One of the biggest ways we saved on our grocery budget was to give up many of those convenience foods that are pre-made or pre-packaged. Many of these processed or pre-made foods tend to be overpriced and you can do it yourself for a lot cheaper. We make our own bread, pancake mix, hot cocoa mix, side dishes, and pizza. Not only is it just and easy to make these things, it’s also comforting to know exactly what’s in it.

Free time:

In order to get our debt paid off, we were also willing to give up some of our free time to generate an extra income, giving us more money to throw into our debt snowball. Both my husband and I have our respective “side hustles” that allow us to use our talents or interests to earn even more money.

Living life without a budget:

budget money

Living on a budget focused our spending and allowed us to gain control of our money. Having a plan for our money allowed us to see how much we needed to live and get by and then how much money was left that we could throw at our debt. Once we got on a written monthly budget, we truly felt as if we had gotten a raise because we were now telling our money where to go instead of wondering at the end of the month, where it went.

Your Turn!

  • What are you willing to give up to get out of debt?